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v3.25.3

SEGMENT INFORMATION (Details) $ in Thousands | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2025 USD ($) segment | Sep. 30, 2024 USD ($) segment | Sep. 30, 2025 USD ($) segment | Sep. 30, 2024 USD ($) segment
SEGMENT INFORMATION |  |  |  |
Number of operating segment | segment | 1 | 1 | 1 | 1
Number of reportable segments | segment |  |  | 1 |
Total revenues | $ 285,080 | $ 270,890 | $ 840,419 | $ 798,505
Significant segment-level expenses (income): |  |  |  |
Total property operating expenses | 90,848 | 81,868 | 262,810 | 242,002
Depreciation and amortization | 66,688 | 51,210 | 192,332 | 152,962
General and administrative | 16,506 | 14,265 | 47,471 | 44,512
Interest expense on loans | 29,380 | 22,750 | 84,570 | 68,436
Loan procurement amortization expense | 1,258 | 986 | 3,700 | 3,031
Equity in earnings of real estate ventures | (648) | (418) | (1,574) | (1,688)
Other | (1,368) | (721) | (2,483) | (744)
NET INCOME | 82,416 | 100,950 | 253,593 | 289,994
Self-storage segment |  |  |  |
SEGMENT INFORMATION |  |  |  |
Total revenues | 285,080 | 270,890 | 840,419 | 798,505
Significant segment-level expenses (income): |  |  |  |
Property taxes | 29,927 | 26,390 | 90,193 | 80,438
Personnel expense | 24,009 | 21,561 | 67,793 | 66,229
Advertising | 9,791 | 9,343 | 24,198 | 21,359
Repairs and maintenance | 3,689 | 2,848 | 9,737 | 8,654
Utilities | 6,699 | 6,901 | 19,126 | 18,811
Property insurance | 3,385 | 3,993 | 11,414 | 11,496
Other property operating expenses | 13,348 | 10,832 | 40,349 | 35,015
Total property operating expenses | 90,848 | 81,868 | 262,810 | 242,002
Depreciation and amortization | 66,688 | 51,210 | 192,332 | 152,962
General and administrative | 16,506 | 14,265 | 47,471 | 44,512
Interest expense on loans | 29,380 | 22,750 | 84,570 | 68,436
Loan procurement amortization expense | 1,258 | 986 | 3,700 | 3,031
Equity in earnings of real estate ventures | (648) | (418) | (1,574) | (1,688)
Other | (1,368) | (721) | (2,483) | (744)
NET INCOME | $ 82,416 | $ 100,950 | $ 253,593 | $ 289,994

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